In the wake of Estée Lauder’s announcement of its intention to acquire makeup company Too Faced, and L’Oréal’s acquisition of IT Cosmetics, the business intelligence company L2 highlighted some other beauty indie brands that might be acquisition targets. L2 noted that snapping up these indie brands has become a key element of some large beauty companies’ strategies, partly because of their different approaches to selling, their access to younger consumers, and their brand visibility. Other brands L2 believes might become targets include Anastasia, Tarte, e.l.f. and Makeup Geek.